Is Suffern, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Suffern was a Seller's Market.
Housing Prices in Suffern, NY
How much do homes in Suffern, NY cost?
Median Sold Price
$553,000
$309/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Suffern was $553,000 in May 2024, up 11.6% from last year, and the median price per square foot was $309.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $207K | $229.2K | +10.7% |
2 Bedrooms | $315K | $359.5K | +14.1% |
3 Bedrooms | $451K | $529K | +17.3% |
4 Bedrooms | $717.5K | $750K | +4.5% |
5+ Bedrooms | $920K | $985K | +7.1% |
Summary: Suffern housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.7%, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 17.3%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 7.1%.
Median Sold Price Compared To Nearby Cities
Suffern | $495.5K | $553K | +11.6% |
Airmont | $740K | $818K | +10.5% |
Ramapo | $658.5K | $705.9K | +7.2% |
Montebello | $860K | $855K | -0.6% |
Housing Supply in Suffern, NY
How many homes are available in Suffern, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
123 | 132 | +7.3% |
Summary: The Suffern real estate market had 132 homes for sale in May 2024, a 7.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 15 | 15 | 0.0% |
2 Bedrooms | 12 | 13 | +8.3% |
3 Bedrooms | 29 | 25 | -13.8% |
4 Bedrooms | 30 | 40 | +33.3% |
5+ Bedrooms | 37 | 39 | +5.4% |
Summary: The Suffern housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.3%, 3 bedroom homes decreased by 13.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 5.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 22 | -12.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Suffern in May 2024, down by 12.0% month-over-month. Of the 22 sold homes, 41% were sold under asking, 9% were sold at asking, and 50% were sold over asking.
Days on Market for Suffern, NY
How long does it take to sell a home in Suffern, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
40 Days | 35 Days | -11.9% |
Summary: Homes in Suffern had an average of 35 days on market in May 2024, down by 11.9% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 22 homes were sold in Suffern; 59% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.